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Oil India IPO subscribed 31 times

This article was posted on Sep 11, 2009 and is filed under Press Releases

Mumbai: Oil India’s 2.6 crore shares’ initial public offering was subscribed 30.82 times on the last day on Thursday. The issue received bids for 81.5 crore shares, according to data with the National Stock Exchange.

The price band for the issue was fixed at Rs 950-1,050.

The portion reserved for the qualified institutional buyers was subscribed 53.8 times according to merchant banking sources. The HNI portion was subscribed 10.47 times and retail portion 1.7 times.

Oil India is the second PSU company to hit the market with an IPO after NHPC’s 168 crore shares issue. The shares of NHPC, which listed on September 1, was trading down 1.73 per cent on Thursday on BSE at Rs 34. Its issue price was Rs 36.

Adani Power, which was listed on August 20, was trading at Rs 102.45 against the issue price of Rs 100.

source: Sify Finance

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